Intech Investment Management LLC bought a new stake in Arrow Electronics, Inc. (NYSE:ARW – Free Report) during the 3rd quarter, HoldingsChannel reports. The firm bought 5,221 shares of the technology company’s stock, valued at approximately $632,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Geneos Wealth Management Inc. increased its stake in Arrow Electronics by 25.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 442 shares of the technology company’s stock worth $56,000 after buying an additional 89 shares in the last quarter. Truist Financial Corp lifted its position in shares of Arrow Electronics by 1.9% in the third quarter. Truist Financial Corp now owns 5,410 shares of the technology company’s stock valued at $655,000 after acquiring an additional 103 shares in the last quarter. Cullen Capital Management LLC boosted its stake in shares of Arrow Electronics by 0.5% in the second quarter. Cullen Capital Management LLC now owns 22,265 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 107 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Arrow Electronics by 0.9% during the second quarter. Lazard Asset Management LLC now owns 12,016 shares of the technology company’s stock worth $1,531,000 after purchasing an additional 109 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Arrow Electronics by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 24,114 shares of the technology company’s stock worth $3,073,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Arrow Electronics Trading Up 0.1%
Shares of Arrow Electronics stock opened at $140.01 on Wednesday. The stock has a 50 day moving average of $134.85 and a 200 day moving average of $123.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.36. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.70 and a beta of 1.01. Arrow Electronics, Inc. has a fifty-two week low of $86.50 and a fifty-two week high of $162.61.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on ARW shares. Wall Street Zen raised shares of Arrow Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Zacks Research raised shares of Arrow Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Truist Financial boosted their price target on shares of Arrow Electronics from $120.00 to $148.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Wells Fargo & Company increased their price objective on shares of Arrow Electronics from $94.00 to $115.00 and gave the company an “underweight” rating in a report on Friday, February 6th. Finally, Weiss Ratings raised shares of Arrow Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.33.
Get Our Latest Stock Analysis on Arrow Electronics
Insider Activity at Arrow Electronics
In other news, SVP Carine Lamercie Jean-Claude sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $156.65, for a total value of $626,600.00. Following the sale, the senior vice president directly owned 16,261 shares of the company’s stock, valued at approximately $2,547,285.65. The trade was a 19.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Austen bought 3,960 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $151.87 per share, for a total transaction of $601,405.20. Following the purchase, the chief executive officer owned 44,722 shares in the company, valued at $6,791,930.14. This represents a 9.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 19,199 shares of company stock valued at $3,009,786 in the last quarter. Corporate insiders own 0.80% of the company’s stock.
Arrow Electronics Profile
Arrow Electronics (NYSE: ARW) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company offers a broad portfolio of semiconductors, passives, connectors, electromechanical devices and embedded solutions, serving customers across diverse end markets including automotive, communications, computing, aerospace, defense and healthcare. Through its extensive supplier relationships, Arrow enables design engineers to identify and procure components required for the development of new electronic systems and devices.
In addition to component distribution, Arrow delivers value-added services such as design engineering support, supply chain management, global logistics and technical training.
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